East China’s Jiangsu province has introduced a slew of monetary and financial policies to help enterprises tide over difficulties caused by the impact of the covid-19 epidemic.
"The 26 monetary and financial policies provide targeted support for the market entities and key industrial areas affected by the epidemic, including monetary policy, inclusive financial services, investment and consumption, industry groups, and real estate and construction.
Jiangsu will guide financial institutions to reduce the financing cost of the real economy by reducing loan interest rates, and provide low-interest rate, mortgage-free credit, and loan-to-repayment support for key green projects and small and medium-sized technology enterprises.
Monetary and financial policies will also give priority to supporting small and micro enterprises, self-employed businesses and the transportation and logistics industries that are severely affected by the epidemic and the province will guide financial institutions to further reduce loan interest rates using re-lending funds.
Li Jun, Director of Money and Credit Division, Nanjing Branch of the People's Bank of China
"The government has required financial institutions to strengthen support for deferred principal repayment for small, medium and micro enterprises and self-employed businesses.The province will also give priority to supporting truck drivers and large international industrial chain enterprises,and adjust the repayment plan by flexibly adopting various methods."said Li Jun, Director of Money and Credit Division, Nanjing Branch of the People's Bank of China
